The new product is part of the buy-to-let range offered by Godiva including;
+3.35% 2 year base rate tracker (30.06.12), loan to value 60%
4.65% Flexx for term, loan to value 60%
Colin Franklin, managing director of Godiva Mortgages, said "We are very confident that introducers will find a buy-to-let product in our range to meet the needs of their clients. Our +3.35% BBR tracker has been extremely popular and we are certain that our new reduced fixed rate of 4.59% will be a welcome addition to our competitively priced range."
At the same time, the Coventry has launched a capped base rate tracker. This product combines all of the best features of a base rate tracker and a fixed rate mortgage - a low initial starting rate, and protection if interest rates start to rise.
The product details are:
+2.49% base rate tracker until 30.06.12, current pay rate 2.99%
Rate capped at 3.99% until 30.06.12
Available up to 65% loan to value
Legal package for remortgagors included
One valuation up to £650 included
Colin Franklin said: "For those wishing to take advantage of low interest rates and protect themselves in future, our capped base rate tracker mortgage is perfect.”
